FOR IMMEDIATE RELEASE

Deutsche Bank today announced the launch of a new, wholesale capital protected China product forsophisticated Australian investors, Capital Protected ChinaOpportunity Receipts.

Receipts are designed for sophisticated investors seeking exposure to the exciting growth potential inthe Chinese equity market without taking on the risk commonly associated with emerging marketinvestments. “Investors can be confident that they will receive all the upside performance without beingsubjected to the downside, because the Receipts are capital protected - provided they are held for thefull term”, says Pia Cooke of Deutsche Bank Structured Product Sales. “And as one the best globalequity performers last year, China continues to show potential for further growth making it an excitingplace for future investment”.

Receipts not only offer investors the opportunity to diversify their portfolios, they also offer access to amarket and portfolio construction techniques that can be difficult to access in Australia.

“Essentially, investors are investing in a dynamically managed portfolio of Chinese shares, known asthe ChinaOpportunityTM Euro Price Return Index which is managed by Deutsche Bank”, explainsCooke. “The portfolio consists of 30 shares chosen from a selection pool of Red Chips, B Shares andH Shares, and the portfolio is rebalanced quarterly though quantitative analysis. And although theportfolio is dynamically managed, investors do not pay any application or annual management fees”.

The stock selection process each quarter is stringent. “We select stocks based on quantitative analysisand research”, says Deutsche Bank’s Head of Asian Derivatives Trading, David Sarkis. “Stocks areselected based upon large market capitalisation, high liquidity, high dividend yield, low price to bookratio and low price to earnings ratio. This reassures investors that the portfolio has a set investmentstrategy focussed on selecting value as well as reducing the broad speculative risks normally linked toemerging market investments”.

The Receipts are a simple way of accessing Chinese equity market performance. Cooke adds,“Investing in Chinese equities can be a difficult process. Finding a broker licenced to deal in Chinesesecurities and selecting shares in an unfamiliar market can make investing a real challenge. WithReceipts, Deutsche Bank does the hard work on behalf of the investor, and because the Receipts arepurchased in AUD, investors avoid complicated currency transactions applicable to traditional Chineseinvestments”.

Investors can monitor the daily performance of their Receipts, as indicative prices will be available oneach Trading Day on the Deutsche Bank web site below.

Receipts will be distributed by both Deutsche Bank and Westpac Banking Corp. For a copy of themarketing brochure, Preliminary Pricing Supplement and Information Memorandum, or for furtherinformation, please see Deutsche Bank’s structured investments website atwww.dbstructuredinvestments.com/china or call:

Kate Abrahams, Communications & Marketing

(61 2) 9258 2416

About Deutsche Bank
With approximately € 864 billion in assets and 68,500 employees, Deutsche Bank offers its 13million clients unparalleled financial services in 76 countries throughout the world. DeutscheBank competes to be the leading global provider of financial solutions for demanding clientscreating exceptional value for its shareholders and people.

Deutsche Bank ranks among the global leaders in corporate banking and securities,transaction banking, asset management, and private wealth management, and has asignificant private & business banking franchise in Germany and other selected countries inContinental Europe.

In Australiasia Deutsche Bank has 3 offices and over 1,000 employees.

www.deutsche-bank.com